BYD announced a net profit of 30.04 billion yuan for 2023, marking an 80.72% increase from the previous year, and plans to distribute a cash dividend of 30.96 yuan for every 10 shares. Despite this, reports indicate the company's earnings fell short of expectations, with earnings per share (EPS) and revenue forecasts not being met for both its H shares and American Depositary Receipts (ADRs). The EPS for H shares was 0.4143 against a forecast of 0.473, and for ADRs, it was 0.8286 against a forecast of 0.9461. Revenue, however, exceeded expectations at 27.62 billion yuan against a forecast of 27.37 billion. The company's market capitalization stood at 80.14 billion yuan for H shares and 88.37 billion yuan for ADRs. Following the earnings report, BYD shares declined by up to 4.7% in Hong Kong. The broader Chinese EV sector also saw declines, with BYD shares dropping 6.11%, amid intense global competition in auto sales and batteries. Despite these challenges, the share of made-in-China vehicles in Europe is expected to rise to 25.3% in 2024, indicating a growing footprint of Chinese brands like BYD in the region.